PRESSÂ RELEASE
Ailing Bank List
DALLAS — (May 18, 2009) /PRNewswire/ Regulatory actions against U.S. financial institutions increased during the latest quarter. Many of the banks that faced actions also face possible failure.
During the first quarter, 180 regulatory actions taken against financial institutions and mortgage lenders were tracked by MortgageDaily.com — a dominant source of online news and statistics for the mortgage industry. The number of actions was up from a revised 164 during the fourth-quarter 2008.
| Q1 2009 | Q4 2008 (revised) |
Q3 2008 (revised) |
| 180 | 164 | 115 |
First-quarter cease-and-desist orders numbered 65, up from the prior period’s 58. Institutions that are seized by bank regulators often face cease-and-desist orders prior to their closing.
Formal agreements were reached with 46 institutions, climbing from the fourth quarter’s 34, while 33 civil money penalties were issued in the first quarter, falling from 38. Regulators issued 19 removal-and-prohibition orders, lower than 25 in the second quarter.
| Type of Order | Q1 2009 | Q4 2008 (revised) |
| Cease-and-Desist | 65 | 58 |
| Civil Money Penalty | 33 | 38 |
| Formal Agreement | 46 | 34 |
| Removal-and-Prohibition | 19 | 25 |
Institutions that faced first-quarter regulatory actions and subsequently failed include Alliance Bank, America West Bank, Cape Fear Bank, Corn Belt Bank and Trust Co., First Bank of Beverly Hills, Firstcity Bancorp Inc., New Frontier Bank, Security Savings Bank, Sherman County Bank and Silverton Bank, N.A.
The majority of reported actions, 102, were taken by the Federal Deposit Insurance Corporation. Activity rose from 101 actions in the prior period.
First-quarter regulatory actions taken by the Office of the Comptroller of the Currency edged up to 38 up from the fourth-quarter’s 36.
Over at the Federal Reserve, 32 orders were reported, climbing from 23.
| Regulator | Q1 2009 | Q4 2008 (revised) |
| Federal Deposit Insurance Corporation | 102 | 101 |
| Federal Reserve Board | 32 | 23 |
| National Credit Union Administration | 5 | 0 |
| Office of the Comptroller of the Currency | 38 | 36 |
| Office of Thrift Supervision | 0 | 0 |
Complete Q1 Regulatory report
https://www.mortgagedaily.com/RegulatoryQ1Report051809.asp
Mortgage Compliance news
https://www.mortgagedaily.com/compliance.asp
Mortgage Litigation news
https://www.mortgagedaily.com/legal.asp
About MortgageDaily.com
Founded in 1998, https://www.mortgagedaily.com provides online mortgage news and analysis for the mortgage industry. Around 1 million news pages are viewed monthly at MortgageDaily.com and its affiliate publications.
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Source:Â MortgageDaily.com
